55 Waverly Dr Pasadena, CA 91105

This exceptional Pasadena creative office building, situated at 55 Waverly Dr, presents a compelling investment opportunity. The 13,015 square foot property, built in 1925 and renovated in 1997, boasts nine fully occupied units, each featuring a unique industrial aesthetic. Exposed brick walls, high ceilings, and concrete flooring create a desirable workspace. Unit sizes range from 860 to 4,000 square feet, with one unit offering live-work capabilities and two parking spaces. The building sits on a 13,287 square foot lot, zoned PSC, and benefits from a ground lease with nine years remaining. Currently operating under a gross lease structure with credit-rated tenants, the property enjoys a 100% occupancy rate and features annual rent bumps of 3%. Its convenient location offers a quiet atmosphere while providing easy access to Old Pasadena and South Pasadena, as well as the Metro Gold Line and the 210/134 freeways. The asking price is $6,940,000. This stabilized, value-add investment presents a rare chance to acquire a high-performing asset in a desirable location. The property's strong tenant base and attractive features make it an ideal addition to any portfolio. The APN is 5713-028-014.